Jeannette looks at the critical topic of risk management in business. Drawing from her extensive experience as a corporate CEO and entrepreneur, she emphasises the importance of having the right tools to navigate risks, regardless of one's appetite for risk.

Jeannette outlines four essential tools for managing risk: creating a profit and loss account, developing a risk and opportunities schedule, crafting investment cases, and maintaining a risk register. She encourages you to embrace risk as a natural part of business and to approach it in a structured manner, ensuring you are prepared for both challenges and opportunities.

KEY TAKEAWAYS

• Regardless of whether you are risk-averse or a risk-taker, managing risk is essential in business and life. It's important to have the right tools to make informed judgments about risk.
• Creating a profit and loss account is crucial for forecasting business performance. It should incorporate potential risks and opportunities, allowing for adjustments as the year progresses.
• Maintaining a risk and opportunity schedule helps identify potential risks and opportunities that may not be certain enough to include in the profit and loss account. This proactive approach allows for better preparedness when these factors materialise.
• When considering investments, it's vital to develop a detailed investment case that includes an analysis of associated risks and opportunities. This is especially important for significant investments that require board approval.

BEST MOMENTS

"Regardless of whether you have an appetite for risk, you need to have the right tools in place to make judgments when it comes to risk."

"When you walk out of the door in the morning, there's risk that you might actually be run over by a bus. Let's hope not. But there is always a risk."

"A risk and opportunity schedule allows you to have that visibility up front, equipping you to deal with them as they come up."

"If you don't risk anything, you risk everything, right? Because otherwise, you're in your comfort zone, you're not pushing forward."

This is the perfect time to get focused on what YOU want to really achieve in your business, career, and life. It’s never too late to be BRAVE and BOLD and unlock your inner BRILLIANT. Visit our new website https://brave-bold-brilliant.com/ - there you'll find a library of FREE resources and downloadable guides and e-books to help you along your journey.

If you’d like to jump on a free mentoring session just DM Jeannette at info@brave-bold-brilliant.com.

VALUABLE RESOURCES

Brave Bold Brilliant - https://brave-bold-brilliant.com/

Brave, Bold, Brilliant podcast series - https://podcasts.apple.com/gb/podcast/brave-bold-brilliant-podcast/id1524278970   

ABOUT THE HOST

Jeannette Linfoot is a highly regarded senior executive, property investor, board advisor, and business mentor with over 30 years of global professional business experience across the travel, leisure, hospitality, and property sectors. Having bought, ran, and sold businesses all over the world, Jeannette now has a portfolio of her own businesses and also advises and mentors other business leaders to drive forward their strategies as well as their own personal development.

Jeannette is a down-to-earth leader, a passionate champion for diversity & inclusion, and a huge advocate of nurturing talent so every person can unleash their full potential and live their dreams.

CONTACT THE HOST

Jeannette’s linktree - https://linktr.ee/JLinfoot

https://www.jeannettelinfootassociates.com/

YOUTUBE - https://www.youtube.com/@braveboldbrilliant

LinkedIn - https://uk.linkedin.com/in/jeannettelinfoot

Facebook - https://www.facebook.com/jeannette.linfoot/

Instagram - https://www.instagram.com/jeannette.linfoot/

Tiktok - https://www.tiktok.com/@brave.bold.brilliant

Podcast Description

Jeannette Linfoot talks to incredible people about their experiences of being Brave, Bold & Brilliant, which have allowed them to unleash their full potential in business, their careers, and life in general. From the boardroom tables of ‘big’ international businesses to the dining room tables of entrepreneurial start-ups, how to overcome challenges, embrace opportunities and take risks, whilst staying ‘true’ to yourself is the order of the day.